Guideline Value for LASAR NAGAR 8TH STREET

Lasar Nagar 8th Street guideline value

The current guideline value of Lasar Nagar 8th Street in Paleripattu village, Avadi SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Commercial Special Type - I.

How the guideline value of Lasar Nagar 8th Street has changed

The guideline value for Lasar Nagar 8th Street has seen significant changes over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 184 per sq.ft in 2003. Following that, the value rose to Rs 300 per sq.ft in 2007, marking a 63% increase from the previous year. By 2012, the value further increased to Rs 1,200 per sq.ft, reflecting a substantial 300% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2023, and finally settling at Rs 1,980 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1115%. The register has no figure for this street for the years not listed above.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO, with 2024 guideline values ranging from Rs 801 to Rs 4,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Lasar Nagar 8th Street's value above that median.

• Lasar Nagar 7th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 9th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 6th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 5th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 4th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lasar Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, making the total fees together Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Lasar Nagar 8th Street?

The Sub Registrar Office that covers Lasar Nagar 8th Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Paleripattu

The guideline value plays a crucial role when buying or selling property in Paleripattu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions based on various factors.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lasar Nagar 8th Street?

The current guideline value of Lasar Nagar 8th Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 163 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1115% over the years.

What is the land classification for Lasar Nagar 8th Street?

Lasar Nagar 8th Street is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for property in Lasar Nagar 8th Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office should I contact for registration in Lasar Nagar 8th Street?

The Avadi Sub Registrar Office is responsible for registration in Lasar Nagar 8th Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.